Apollon Wealth Management LLC Reduces Holdings in NIKE, Inc. (NYSE:NKE)

Apollon Wealth Management LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 10.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,406 shares of the footwear maker’s stock after selling 992 shares during the period. Apollon Wealth Management LLC’s holdings in NIKE were worth $1,299,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NKE. OLD Mission Capital LLC purchased a new position in shares of NIKE during the third quarter valued at approximately $338,000. Rafferty Asset Management LLC boosted its holdings in shares of NIKE by 107.4% during the first quarter. Rafferty Asset Management LLC now owns 8,952 shares of the footwear maker’s stock worth $1,190,000 after purchasing an additional 4,636 shares during the last quarter. Summit X LLC purchased a new stake in shares of NIKE in the first quarter valued at $909,000. Strategic Blueprint LLC increased its stake in NIKE by 11.7% in the first quarter. Strategic Blueprint LLC now owns 3,279 shares of the footwear maker’s stock valued at $436,000 after purchasing an additional 344 shares during the last quarter. Finally, Rational Advisors LLC boosted its stake in NIKE by 21.9% in the 1st quarter. Rational Advisors LLC now owns 27,839 shares of the footwear maker’s stock worth $3,700,000 after buying an additional 5,000 shares during the last quarter. 64.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NKE opened at $149.59 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.72 and a quick ratio of 2.01. The firm’s 50 day moving average is $164.95 and its 200-day moving average is $147.80. NIKE, Inc. has a 12-month low of $118.80 and a 12-month high of $174.38. The stock has a market capitalization of $236.62 billion, a P/E ratio of 42.02, a P/E/G ratio of 2.49 and a beta of 0.87.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Wednesday, September 22nd. The footwear maker reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The company had revenue of $12.25 billion during the quarter, compared to the consensus estimate of $12.47 billion. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 4.3 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Monday, August 30th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, August 27th. NIKE’s dividend payout ratio is presently 30.90%.

In related news, Director John G. Connors sold 66,000 shares of the firm’s stock in a transaction that occurred on Friday, July 2nd. The shares were sold at an average price of $159.50, for a total transaction of $10,527,000.00. Following the completion of the sale, the director now directly owns 70,514 shares in the company, valued at $11,246,983. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Chris L. Abston sold 18,000 shares of the stock in a transaction that occurred on Tuesday, June 29th. The stock was sold at an average price of $155.00, for a total transaction of $2,790,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 306,671 shares of company stock valued at $49,513,487. Corporate insiders own 3.70% of the company’s stock.

Several research firms recently issued reports on NKE. Bank of America decreased their target price on shares of NIKE from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley dropped their price objective on NIKE from $221.00 to $201.00 and set an “overweight” rating for the company in a report on Friday. Piper Sandler lifted their target price on NIKE from $170.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, June 25th. Barclays dropped their price target on NIKE from $194.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $179.00 to $171.00 and set a “buy” rating on the stock in a research note on Monday, September 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $174.13.

About NIKE

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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